Summary: <br> <br> When Overspending on Luxury Backfires<br> <br> Many financially-able consumers commit to overspending on designer purchases. Because luxury goods by nature are both pricey and in high-demand, such possessions communicate status and prestige.<br> Then there’s our biology: evolution reinforces comparing and competing. In the age of social media we post fancy photos of ourselves doing fancy things as a way to prove we, too, are as worthy as our peers.<br> But while consumers assume investing in designer items will result in confidence, overspending often backfires.<br> On today’s show I discuss <a href="https://academic.oup.com/jcr/advance-article-abstract/doi/10.1093/jcr/ucz044/5575076?redirectedFrom=fulltext" target="_blank" rel="noopener noreferrer">the paradox of luxury consumption</a> with Dr. Dafna Goor and Dr. Nailya Ordabayeva, two researchers who analyze how designer purchases *actually* influence self-worth. We identify why overspending backfires; we outline reasons the why science suggests buying for your authentic self (and not your aspirational one), too.<br> Enjoy!<br> <br> * Want more episodes like this one? Check out <a href="https://mamaminimalist.com/029/" target="_blank" rel="noopener noreferrer">#029: Is Sustainability Unmanly?</a><br> * Join our (free!) community <a href="https://www.facebook.com/groups/134165317219800/" target="_blank" rel="noopener noreferrer">here</a>.<br> * Find your tribe. Sustainable Minimalists are on <a href="https://www.facebook.com/SustainableMinimalists/" target="_blank" rel="noopener noreferrer">Facebook,</a> <a href="https://www.instagram.com/mommyminimalist/" target="_blank" rel="noopener noreferrer">Instagram</a> + <a href="https://www.pinterest.com/mommyminimalist/pins/" target="_blank" rel="noopener noreferrer">Pinterest</a>.<br> * Sharing is caring! Have you left the show a review yet? <a href="https://podcasts.apple.com/us/podcast/the-sustainable-minimalists-podcast/id1329830361" target="_blank" rel="noopener noreferrer">On the Apple Podcasts app</a>, hit the Library tab, scroll allll the way to the bottom past all prior episodes, then click on the stars to leave a review. (Thank you!)<br> <br> <br>
